XML 18 R8.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)
$ in Thousands
Total
Member Units
Total Stockholders’ Equity
Common Stock
Capital in excess of par
Retained Earnings
Accumulated Other Comprehensive Loss
Non-controlling Interests
Members' unit, beginning balance (in shares) at Dec. 31, 2023   447,081,000            
Members' unit, beginning balance at Dec. 31, 2023   $ 470,303            
Increase (Decrease) in Partners' Capital [Roll Forward]                
Distribution to Parent $ (6,891) $ (6,891) $ (6,891)          
Conversion of LLC to Corporation and Impact of reverse stock split (in shares)   (447,081,000)   104,094,000        
Conversion of LLC to Corporation and impact of reverse stock split 0 $ (463,412) 0 $ 1,041 $ 462,371      
Beginning balance at Dec. 31, 2023 1,160,962   1,155,596     $ 685,293   $ 5,366
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the Company 48,956   48,956     48,956    
Net income attributable to non-controlling interests 270   0         270
Distributions to non-controlling interests (369)   0         (369)
Distribution to Parent (6,891) $ (6,891) (6,891)          
Redemption value adjustment on non-controlling interests (1,901)   (1,901)     (1,901)    
Conversion of LLC to Corporation and Impact of reverse stock split (in shares)   (447,081,000)   104,094,000        
Conversion of LLC to Corporation and impact of reverse stock split 0 $ (463,412) 0 $ 1,041 462,371      
Ending balance (in shares) at Mar. 31, 2024       104,094,000        
Ending balance at Mar. 31, 2024 1,201,027   1,195,760 $ 1,041 462,371 732,348   5,267
Members' unit, beginning balance (in shares) at Dec. 31, 2023   447,081,000            
Members' unit, beginning balance at Dec. 31, 2023   $ 470,303            
Beginning balance at Dec. 31, 2023 1,160,962   1,155,596     685,293   5,366
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the Company 145,031              
Ending balance (in shares) at Sep. 30, 2024       127,344,000        
Ending balance at Sep. 30, 2024 283,110   277,780 $ 1,273 276,507 0   5,330
Increase (Decrease) in Partners' Capital [Roll Forward]                
Distribution to Parent (851)   (851)   (851)      
Beginning balance (in shares) at Mar. 31, 2024       104,094,000        
Beginning balance at Mar. 31, 2024 1,201,027   1,195,760 $ 1,041 462,371 732,348   5,267
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the Company 51,737   51,737     51,737    
Net income attributable to non-controlling interests 244   0         244
Distributions to non-controlling interests (307)   0         (307)
Distribution to Parent (851)   (851)   (851)      
Redemption value adjustment on non-controlling interests 132   132     132    
Ending balance (in shares) at Jun. 30, 2024       104,094,000        
Ending balance at Jun. 30, 2024 1,251,982   1,246,778 $ 1,041 461,520 784,217   5,204
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the Company 44,338   44,338     44,338    
Net income attributable to non-controlling interests 312   0         312
Distributions to non-controlling interests (186)   0         (186)
Contribution from Parent 11,149   11,149   11,149      
Initial Public Offering (in shares)       23,250,000        
Initial Public Offering 511,198   511,198 $ 232 510,966      
Dividend to Parent (1,535,683)   (1,535,683)   (707,128) (828,555)    
Ending balance (in shares) at Sep. 30, 2024       127,344,000        
Ending balance at Sep. 30, 2024 $ 283,110   277,780 $ 1,273 276,507 0   5,330
Beginning balance (in shares) at Dec. 31, 2024 128,125,952     128,126,000        
Beginning balance at Dec. 31, 2024 $ 280,711   275,671 $ 1,281 260,837 13,553 $ 0 5,040
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the Company 38,911   38,911     38,911    
Net income attributable to non-controlling interests 293   0         293
Cash dividends declared (8,010)   (8,010)     (8,010)    
Issuance of restricted stock (in shares)       46,000        
Issuance of restricted stock 0   0 $ 1 (1)      
Stock compensation expense 2,269   2,269   2,269      
Redemption value adjustment on non-controlling interests 0              
Other comprehensive (loss) gain (1,722)   (1,722)       (1,722)  
Ending balance (in shares) at Mar. 31, 2025       128,172,000        
Ending balance at Mar. 31, 2025 $ 312,452   307,119 $ 1,282 263,105 44,454 (1,722) 5,333
Beginning balance (in shares) at Dec. 31, 2024 128,125,952     128,126,000        
Beginning balance at Dec. 31, 2024 $ 280,711   275,671 $ 1,281 260,837 13,553 0 5,040
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the Company $ 131,730              
Ending balance (in shares) at Sep. 30, 2025 128,170,202     128,170,000        
Ending balance at Sep. 30, 2025 $ 390,662   385,488 $ 1,282 267,720 120,075 (3,589) 5,174
Beginning balance (in shares) at Mar. 31, 2025       128,172,000        
Beginning balance at Mar. 31, 2025 312,452   307,119 $ 1,282 263,105 44,454 (1,722) 5,333
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the Company 44,560   44,560     44,560    
Net income attributable to non-controlling interests 219   0         219
Distributions to non-controlling interests (368)   0         (368)
Cash dividends declared (8,011)   (8,011)     (8,011)    
Forfeitures of unvested restricted stock       $ (1)        
Stock compensation expense 2,285   2,285   2,285      
Redemption value adjustment on non-controlling interests (1,176)   (1,176)     (1,176)    
Other comprehensive (loss) gain (2,141)   (2,141)       (2,141)  
Ending balance (in shares) at Jun. 30, 2025       128,171,000        
Ending balance at Jun. 30, 2025 347,820   342,636 $ 1,282 265,390 79,827 (3,863) 5,184
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income attributable to the Company 48,259   48,259     48,259    
Net income attributable to non-controlling interests 211   0         211
Distributions to non-controlling interests (221)   0         (221)
Cash dividends declared (8,011)   (8,011)     (8,011)    
Forfeitures of unvested restricted stock       $ (1)        
Stock compensation expense 2,330   2,330   2,330      
Other comprehensive (loss) gain $ 274   274       274  
Ending balance (in shares) at Sep. 30, 2025 128,170,202     128,170,000        
Ending balance at Sep. 30, 2025 $ 390,662   $ 385,488 $ 1,282 $ 267,720 $ 120,075 $ (3,589) $ 5,174